Qualifying income reduced from R5,000 to R3,500 per month, providing qualifying customers with access to credit to support responsible financial management, subject to affordability assessments
As South African consumers continue to manage increased cost of living pressures, First National Bank (FNB) is broadening access to formal credit for qualifying customers by reducing the minimum qualifying income threshold for the Aspire Credit Card from R5,000 to R3,500 per month.
The move is intended to extend access to a regulated credit product, subject to statutory affordability and creditworthiness assessments, while providing structured credit limits, repayment transparency, financial management tools, and education to support responsible credit management.
“Access to formal credit can help build a financial profile, but responsible lending is about far more than approving applications. This is not about giving credit access to everyone,” says Thabiso Tshabalala, Credit Card Product Head at FNB. “It’s about ensuring customers enter credit in a way that is structured, transparent and supported with the information and tools they need to understand not only the benefits of credit, but also its costs and responsibilities.”
FNB notes that access to credit must be accompanied by clear and practical guidance that helps customers understand how credit works, how repayments influence their credit profile, and how responsible financial behaviour today can support their financial future.
The change forms part of FNB’s broader financial inclusion strategy, supporting customers who may be new to credit, have limited credit histories or are seeking to rehabilitate their credit profiles following prior financial difficulty.
“All applications remain subject to our affordability and credit assessments in line with the National Credit Act,” adds Tshabalala. “Moreover, we are giving qualifying customers the information and tools they need to use credit confidently.”
The Aspire Credit Card gives customers access to features that support responsible usage, including:
- Clear repayment visibility
- In-app tools to track usage
- Flexible repayment options
- Structured starting credit limits based on affordability
- Ongoing financial education and guidance
Understanding the full cost of credit is an important part of borrowing responsibly. FNB encourages customers to familiarise themselves with the costs, fees and repayment terms before making use of any credit facility. Customers should note that certain transactions, including cash withdrawals and cash advances, may attract interest immediately, while interest and applicable fees may also be charged where balances are not settled in full within the applicable interest-free period. Paying only the minimum amount due may increase the overall cost of credit over time, while missed or late payments may adversely affect a customer’s credit profile.
For many South Africans, establishing a healthy credit profile is an important step towards meaningful financial participation. Whether applying for vehicle finance, a home loan or other forms of credit in the future, building a positive repayment history over time can help expand financial opportunities.
“Credit should never be used as a quick fix for financial pressure,” Tshabalala emphasises. “Used responsibly, it supports future financial goals. Our role is to make that journey clearer, safer and more transparent.”
FNB believes that responsible access to credit is an important part of financial inclusion, especially for customers who may otherwise rely on informal or less transparent forms of borrowing.
“The cost of turning to informal borrowing is not always clear upfront. Uninformed customers may face limited protection if something goes wrong. That can make an already difficult financial situation harder to manage,” concludes Tshabalala. “We want customers to access a more transparent and structured alternative, with visibility and support to help them use credit responsibly. Responsible credit is about helping people make informed choices that support long term financial progress.”
For more information on building your credit profile responsibly, visit FNB’s financial education resources or speak to an adviser in branch
